Petards Group PLC Contract Win (0371M)
10 October 2016 - 5:00PM
UK Regulatory
TIDMPEG
RNS Number : 0371M
Petards Group PLC
10 October 2016
10 October 2016
PETARDS GROUP PLC ("Petards" or the "Group")
Contract Win
Petards, the AIM quoted software developer of advanced security
and surveillance systems, announces that it has been awarded a
contract to supply Great Western Railway with Petards eyeTrain
systems.
The new contract, which is worth approximately GBP6 million, is
for the design, development, supply and installation of eyeTrain
systems to be fitted to Class 165 and 166 Diesel Multiple Units
("DMU") trains. The developed systems add substantial new software
driven functionality to Petards' existing eyeTrain solutions.
Engineering development is already underway and will make a
contribution to 2016 revenues. This is expected to be completed by
the third quarter of 2017 when deliveries of the integrated systems
will commence with scheduled completion by the end of 2018.
Commenting, Petards Chairman Raschid Abdullah said: "We are
delighted that Petards has been selected by Great Western Railway
to work with them on this exciting project which further enhances
our position in the rail industry and significantly strengthens the
Group's present order book for delivery in 2017 and 2018."
Contacts:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Mb: 07768 905 004
WH Ireland Limited, Nomad www.wh-ireland.co.uk
and Joint Broker
Mike Coe / Ed Allsopp Tel: 0117 945 3470
Hybridan LLP, Joint Broker www.hybridan.com
Claire Louise Noyce Tel: 020 3764 2341
claire.noyce@hybridan.com
This information is provided by RNS
The company news service from the London Stock Exchange
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